Symmetry Investments LP Invests $702,000 in FedEx Co. (NYSE:FDX)

Symmetry Investments LP acquired a new stake in shares of FedEx Co. (NYSE:FDX) in the second quarter, Holdings Channel reports. The firm acquired 2,341 shares of the shipping service provider’s stock, valued at approximately $702,000.

Several other large investors also recently added to or reduced their stakes in the stock. Fortis Group Advisors LLC boosted its holdings in shares of FedEx by 100.0% in the fourth quarter. Fortis Group Advisors LLC now owns 100 shares of the shipping service provider’s stock valued at $25,000 after purchasing an additional 50 shares during the period. Scarborough Advisors LLC purchased a new stake in shares of FedEx in the 4th quarter worth $25,000. Central Valley Advisors LLC bought a new position in shares of FedEx during the 2nd quarter worth $39,000. Security National Bank purchased a new position in shares of FedEx during the fourth quarter valued at $44,000. Finally, Abound Wealth Management lifted its stake in FedEx by 175.9% in the second quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock worth $45,000 after acquiring an additional 95 shares during the period. 84.47% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently commented on FDX. Hsbc Global Res lowered shares of FedEx from a “strong-buy” rating to a “hold” rating in a report on Friday. Stephens restated an “overweight” rating and set a $350.00 target price on shares of FedEx in a report on Friday. The Goldman Sachs Group reduced their price target on FedEx from $333.00 to $332.00 in a research report on Friday. Susquehanna dropped their price objective on FedEx from $345.00 to $330.00 and set a “positive” rating on the stock in a research report on Friday. Finally, Robert W. Baird reduced their target price on shares of FedEx from $340.00 to $320.00 and set an “outperform” rating for the company in a report on Friday. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $312.84.

FedEx Stock Down 15.2 %

Shares of FDX opened at $254.63 on Friday. The stock’s 50-day moving average price is $292.43 and its 200-day moving average price is $274.85. The company has a quick ratio of 1.32, a current ratio of 1.36 and a debt-to-equity ratio of 0.73. The company has a market capitalization of $62.66 billion, a price-to-earnings ratio of 14.78, a PEG ratio of 1.03 and a beta of 1.17. FedEx Co. has a 52 week low of $224.69 and a 52 week high of $313.84.

FedEx (NYSE:FDX) last posted its earnings results on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.82 by ($1.22). The firm had revenue of $21.58 billion during the quarter, compared to analyst estimates of $21.87 billion. FedEx had a net margin of 4.94% and a return on equity of 16.70%. The business’s revenue for the quarter was down .5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.55 earnings per share. On average, sell-side analysts predict that FedEx Co. will post 20.82 EPS for the current year.

FedEx Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 9th will be issued a $1.38 dividend. The ex-dividend date of this dividend is Monday, September 9th. This represents a $5.52 dividend on an annualized basis and a yield of 2.17%. FedEx’s payout ratio is 32.04%.

Insider Activity

In other FedEx news, EVP Robert B. Carter sold 16,010 shares of the stock in a transaction on Friday, June 28th. The shares were sold at an average price of $294.48, for a total transaction of $4,714,624.80. Following the transaction, the executive vice president now directly owns 59,884 shares of the company’s stock, valued at $17,634,640.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other FedEx news, EVP Robert B. Carter sold 16,010 shares of the stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $294.48, for a total transaction of $4,714,624.80. Following the completion of the transaction, the executive vice president now owns 59,884 shares of the company’s stock, valued at $17,634,640.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sriram Krishnasamy sold 8,421 shares of the business’s stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $310.14, for a total value of $2,611,688.94. Following the sale, the chief executive officer now owns 12,246 shares of the company’s stock, valued at $3,797,974.44. The disclosure for this sale can be found here. Insiders sold 32,944 shares of company stock worth $9,882,355 over the last three months. 8.73% of the stock is currently owned by corporate insiders.

About FedEx

FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. It operates through FedEx Express, FedEx Ground, FedEx Freight, and FedEx Services segments. The FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; and time-critical transportation services.